MB Aerospace manufacturers and repairs aero-engine parts for customers including Rolls-Royce, Boeing, United Technologies Aerospace Systems, General Electric and the US Department of Defense, and has facilities in the UK, US and Poland.

Bruce McEvoy, managing director at Blackstone, said: “We are thrilled to have the opportunity to partner with such a high quality management team. MB Aerospace is a best-in-class engine component manufacturing and repair platform, and we look forward to supporting the company as it continues to expand its capabilities during its next phase of growth.”

The company's management team, led by chief executive Craig Gallagher, who's held the position since 2003, will remain in place after the sale.

Gallagher said: "This significant investment from Blackstone is very positive news for MB Aerospace. It provides us with a huge opportunity to invest and to continue to grow both organically and through acquisition both in the US and in Europe.”

MB Aerospace was spun out of engineering group Motherwell Bridge in 2007, in a management buy-out led by Gallagher. Arlington Capital came on board in March 2013.